Further consolidating the relationship already built in co-ownership of LNG tonnage, EXMAR and Teekay LNG Partners signed an agreement effectively creating a jointly-owned midsize LPG fleet of one Very Large Gas carrier and 15 midsize vessels, four which were the firm newbuild commitments under construction at the Hyundai Mipo yard in Korea. The two companies also announced a new order for up 8 midsize LPG carriers with Hanjin Heavy Industries Corporation to be built at Subic Bay in the Philippines for delivery in 2015-2016, underlining the commitment of both partners to strategic expansion plan of the midsize LPG fleet.